Essential Properties Realty Trust (NYSE:EPRT) Given New $35.00 Price Target at Mizuho

18 Nov 2024, 07:06 by Renee Jackson · The Cerbat Gem

Essential Properties Realty Trust (NYSE:EPRT – Free Report) had its price objective increased by Mizuho from $31.00 to $35.00 in a research report report published on Thursday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on the company. Stifel Nicolaus upped their target price on Essential Properties Realty Trust from $32.00 to $36.25 and gave the company a “buy” rating in a report on Thursday, September 26th. Raymond James raised their target price on shares of Essential Properties Realty Trust from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. UBS Group boosted their price target on shares of Essential Properties Realty Trust from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wedbush assumed coverage on shares of Essential Properties Realty Trust in a research note on Monday, August 19th. They issued an “outperform” rating and a $34.00 price target for the company. Finally, Wells Fargo & Company reduced their target price on Essential Properties Realty Trust from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.37.

Get Our Latest Stock Analysis on EPRT

Essential Properties Realty Trust Price Performance

Shares of Essential Properties Realty Trust stock opened at $32.86 on Thursday. The firm has a market capitalization of $5.76 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.73 and a beta of 1.37. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.69. Essential Properties Realty Trust has a 12 month low of $23.01 and a 12 month high of $34.51. The business’s 50-day moving average price is $33.01 and its 200-day moving average price is $30.25.

Essential Properties Realty Trust (NYSE:EPRT – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). The business had revenue of $117.13 million during the quarter, compared to analysts’ expectations of $109.73 million. Essential Properties Realty Trust had a return on equity of 6.20% and a net margin of 46.00%. Essential Properties Realty Trust’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Sell-side analysts forecast that Essential Properties Realty Trust will post 1.68 EPS for the current fiscal year.

Essential Properties Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 annualized dividend and a yield of 3.53%. Essential Properties Realty Trust’s dividend payout ratio (DPR) is currently 100.87%.

Insider Activity at Essential Properties Realty Trust

In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 27,817 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.33, for a total transaction of $899,323.61. Following the completion of the sale, the chief executive officer now directly owns 446,076 shares of the company’s stock, valued at approximately $14,421,637.08. This represents a 5.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Essential Properties Realty Trust

A number of large investors have recently modified their holdings of the business. Duff & Phelps Investment Management Co. acquired a new stake in Essential Properties Realty Trust during the 3rd quarter worth about $69,473,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Essential Properties Realty Trust by 5,380.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,881,960 shares of the company’s stock valued at $52,149,000 after purchasing an additional 1,847,618 shares during the period. Adelante Capital Management LLC raised its position in Essential Properties Realty Trust by 3,964.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,111,634 shares of the company’s stock worth $37,962,000 after buying an additional 1,084,287 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Essential Properties Realty Trust by 4.4% during the first quarter. Vanguard Group Inc. now owns 25,377,389 shares of the company’s stock worth $676,561,000 after purchasing an additional 1,060,079 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Essential Properties Realty Trust by 434.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,086,529 shares of the company’s stock valued at $37,105,000 after buying an additional 883,053 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

About Essential Properties Realty Trust

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